India's Mid-Market Businesses Thrive Positive Economic Outlook Prevails Globally

01 Mar, 2024

India's Mid-Market Businesses Thrive Positive Economic Outlook Prevails Globally

Amidst a global economic slowdown and waning confidence in the Asia-Pacific region's economic future, India's mid-market businesses remain optimistic, as revealed by a Grant Thornton report. According to the International Business Report (IBR), almost 80% of Indian mid-market enterprises foresee a positive economic trajectory over the next 12 months, a slight increase from 78% in H1 2023.

The survey, conducted in the latter half of 2023, highlighted that this optimism is primarily driven by India's burgeoning domestic market and government initiatives like 'Make in India,' which foster a conducive atmosphere for expansion. Despite external challenges, including the global economic downturn, Indian mid-market businesses are buoyed by domestic demand and supportive policy measures, positioning them for continued growth.

In contrast to prevailing concerns in the Asia-Pacific region, India's mid-market segment remains resilient, displaying confidence in its ability to navigate challenges and capitalize on emerging opportunities. This positive outlook underscores the adaptability and resilience of Indian businesses, signaling a promising trajectory for the country's economic landscape in the coming months.